The Best Mortgage Broker in British Columbia

About
First Time Home Buyers in Surrey

20+ Years

Experience Mortgage Broker in Surrey

AT UNBELIEVABLY AFFORDABLE RATES

Buy Your First Home

Why spend an exorbitant amount of cash on your first home when you have the chance to do much better with Swarn Sidhu? His expertise in refinancing and mortgages will provide you with a full-on view of the options you have before you buy your very first home. We understand that you may be nervous and have a lot of questions, but with Swarn in your corner, you can have that peace of mind knowing you will be well taken care of.

In order to make well-informed decision, followings are a few things that you might want to look into.

  • Selecting the right realtor
  • Picking the perfect mortgage
  • Early house hunting
  • Ability to afford and finance your home
  • Mortgage life insurance
  • Prepayments

Throughout the process of purchasing a home, your realtor will be a constant. So you need to make sure that you pick the right realtor. Will they understand your true needs and wants? Will they put in the effort to take your likes into consideration? Are they available for any doubts and clarifications? These are several things you should look into. Meet your pick of realtors before settling down with one. Because if you are not comfortable with your realtor or if you feel like you cannot establish a good relationship with them, it is better to know in advance than falling in trouble later on.

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Ability to Afford and Finance Your Home

The ability to afford and pay for your home depends on your finances. How much do you earn and what portion of it can you allocate for your home payments? This is where your mortgage specialist comes into play. Because renowned mortgage specialists like Swarn Sidhu can give you a professional opinion on your ability to afford and finance your home.

If you want to have a realistic idea about the mortgage you might qualify for, you can try to secure a pre-approved mortgage. When applying for this, the mortgage providers will look into your finances and base their decision on the analysis they do. They might look into your taxes and utility expenses to assess how much you will be able to set aside on a monthly basis - this calculation is known as the Gross Debt Service Ratio (GDS). For a more comprehensive assessment, they may also do a Total Debt Service Ratio (TDS) calculation which includes your other financial liabilities as well.

Picking The Perfect Mortgage

When choosing a mortgage, you need to make sure that it is the right one. Well, let us take a look at what you need to look into when making this decision.

  • Is it a conventional mortgage or is it a high-ratio insured mortgage?

  • Is it a closed mortgage or an open mortgage?

  • Is it a long-term mortgage or a short-term mortgage?

  • Is the interest rate fixed or variable?

If these things do not make sense to you, still do not worry! Because your mortgage specialist will guide you through them all and make sure that you sign up for the best-suited and most optimal mortgage plan.

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  • Support Service

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  • Refinance Guide

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First Time Home Mortgages
FAQ
Faq

If you are already about to sign up for a mortgage, mortgage life insurance might also be something that you can consider. Because, in comparison, mortgage life insurances are associated with a lower cost and they can be a part of your general mortgage payment.

Although different mortgage providers will have different policies, the general idea of a mortgage life insurance is that you will be paid your balance in full in case of a permanent disability, terminal illnesses, or death.

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